Friday, August 28, 2009
$NDX moves towards one of it's .500 nodes as well...
Quietly, the $NDX has been stealthily creeping up on it's .500 node (1.317 time base), current value is .48988.
It also is getting tangled up in a couple of trendlines, as you can see, and meanwhile the $SPX is at a node value of .51810, still very much in the window of a .500 node decline, which doesn't expire until node values of .530 or greater. So both indexes are ripe now to fail. And September is almost here, the killer month for stocks.